Dealing with divorces is never easy. For starters, there is the emotional strain of separating from your spouse. And then comes messy and complex legal procedures. Filing paperwork, meeting deadlines, and showing up at hearings, all while dealing with your emotions, can be challenging. Things can get a bit more complicated if your divorce is high-asset.
During a divorce, the assets that you and your spouse collect during the course of your marriage get separated between two parts. In a high-asset divorce, these assets are larger than the average divorce. Expert financial planning by a Delawre high asset divorce attorney can help you divide these assets fairly.
Four things to consider during your high-asset divorce
Be aware of hidden assets.
No matter how genuine you think your spouse may be, you should never trust them entirely during a divorce. When people have huge assets, they often do not wish to divide them and give them to their ex-spouse.
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This causes them to hide these assets using unlawful ways.
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People think hiding assets will prevent the courts from dividing them, which is a misconception. Experienced attorneys can find hidden assets using their special resources.
Organize your assets.
Before filing for divorce, one good thing is to organize your assets. It is good to make a list of all the assets and strike out the ones that are likely going to your ex-spouse. You should not think about transferring, devaluing, shuffling, or liquefying assets, as there are high chances of these moves being discovered in court.
Creating an inventory of your assets and allowing your attorney to review it can give you an idea of what you can expect to keep at the end of the divorce.
Maintain trust with your ex-spouse.
It is natural not to speak with your ex-spouse, let alone maintain good relations with them. However, doing this can significantly benefit your case. Even if you despise them, you should keep your emotions contained until the divorce is finalized. Maintaining trust can help move the process faster. Once the trust is broken, they will continue doing things that will drag out the divorce.
Get an accountant.
If you do not have any experience or knowledge about organizing assets, it might be difficult for you to review so many at once. When you find yourself constantly confused about your assets, it is time to hire an accountant. An accountant can speed up the process and help keep things organized during the divorce and in the future as well.
Delawre divorce attorneys that are well-versed in high-asset divorce proceedings can help you. Having a legal expert by your side gives you peace of mind that your assets will be protected.